Werner Jammernegg's Books

Sequential Binary Investment Decisions

A Bayesian Approach

By: Werner Jammernegg

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Sequential Binary Investment Decisions

A Bayesian Approach

By: Werner Jammernegg

This book describes some models from the theory of investment which are mainly characterized by three features. Firstly, the decision-maker acts in a dynamic environment. Secondly, the distributions of the random variables are only incompletely known at the beginning of the planning process. This is termed as decision-making under conditions of uncer tainty. Thirdly, in large parts of the work we restrict the analysis to binary decision models. In a binary model, the decision-maker must choose one of two actions. For example, one decision means to undertake the invest ·ment project in a planning period, whereas the other decision prescribes to postpone the project for at least one more period. The analysis of dynamic decision models under conditions of uncertainty is not a very common approach in economics. In this framework the op timal decisions are only obtained by the extensive use of methods from operations research and from statistics. It is the intention to narrow some of the existing gaps in the fields of investment and portfolio analysis in this respect. This is done by combining techniques that have been devel oped in investment theory and portfolio selection, in stochastic dynamic programming, and in Bayesian statistics. The latter field indicates the use of Bayes' theorem for the revision of the probability distributions of the random variables over time.

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Page Count

167

Publisher

Springer Science & Business Media

Published Date

ISBN 10

364246646X

ISBN 13

9783642466465

Unique Solutions for Strategic Games

Equilibrium Selection Based on Resistance Avoidance

By: Werner Güth,Brigitte Kalkofen

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Unique Solutions for Strategic Games

Equilibrium Selection Based on Resistance Avoidance

By: Werner Güth,Brigitte Kalkofen

This book develops a general solution concept for strategic games which resolves strategic uncertainty completely. The concept is described by a mathematically formulated solution procedure and illustrated by applying it to many interesting examples. A long nontechnical introduction tries to survey and to discuss the more technical parts of the book. The book and especially the introduction provide firm and consistent guidance for scholars of game theory. There are many open problems which could inspire further research efforts.

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Page Count

211

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642483674

ISBN 13

9783642483677

Sequential Binary Investment Decisions

A Bayesian Approach

By: Werner Jammernegg

Write a review Read reviews Take a Quiz Solve Book Puzzle

Sequential Binary Investment Decisions

A Bayesian Approach

By: Werner Jammernegg

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

167

Publisher

Springer Science & Business Media

Published Date

ISBN 10

364246646X

ISBN 13

9783642466465

Book's by Werner Jammernegg

Sequential Binary Investment Decisions

Sequential Binary Investment Decisions

Unique Solutions for Strategic Games

Unique Solutions for Strategic Games

Sequential Binary Investment Decisions

Sequential Binary Investment Decisions

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